If P = 3Q_s + 3 Represents Market Supply for a Competitive

question 142

Multiple Choice

If P = 3Q_s + 3 represents market supply for a competitive industry and market demand is given by Q_d = 31 - 1/3 P, the equilibrium quantity is:

• A) 10.
• B) 15.
• C) 20.
• D) 48.

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